NEW YORK, NY--(Marketwire - Jun 16, 2011) - BNP Paribas announced that effective January 1, 2011, all United States-based employees who opt to cover their same-sex domestic partners under the Bank's medical or dental plans will be eligible for a reimbursement to offset the additional U.S. federal tax paid by the employee for the same-sex domestic partner benefit.
"We at BNP Paribas are deeply committed to our employees," said Everett Schenk, Region Head. "This addition to BNP Paribas's benefits package signifies that we listen to our employees' needs and work hard to fulfill them."
In this new program, BNP Paribas will offer payment to offset the additional federal tax paid by lesbian, gay, bisexual, and transgender (LGBT) employees with same-sex domestic partners, whose marriages are not recognized under federal law. BNP Paribas is among the first three banks to offer this option in the U.S.
In recognizing the strength of diversity and inclusion, BNP Paribas supports its LGBT employees across the territory and strives to maintain an environment where all employees are welcomed to succeed.
The Bank's new benefit is the result of a collaborative effort between Human Resources and the Bank's employee-led business networking group for LGBT individuals and allies, GLOBE.
BNP Paribas' efforts were recently recognized when the Bank received a perfect score of 100 percent in the Human Rights Campaign's 2011 Corporate Equality Index (CEI), a survey that assesses American workplaces on lesbian, gay, bisexual and transgender equality.
BNP Paribas Corporate and Investment Banking
BNP Paribas Corporate and Investment Banking employs around 20,000 people in over 50 countries and services 14,000 corporate and institutional clients worldwide.
BNP Paribas CIB excels in:
Derivatives - where it is one of the leading global players in rates, credit, forex, commodity and equity derivatives
Capital markets - where it is one of the top European houses in both ECM and DCM (bond, securitization, convertibles and equity issuance)
Structured finance - where it is amongst the leaders in acquisition, export, project, energy and commodity finance globally
About BNP Paribas
BNP Paribas (www.bnpparibas.com) is one of the strongest banks in the world*. The Group has a presence in more than 80 countries and more than 200,000 employees, including more than 160,000 in Europe. It ranks highly in its three core activities: Retail Banking, Investment Solutions and Corporate & Investment Banking. In Europe, the Group has four domestic markets (Belgium, France, Italy and Luxembourg) and BNP Paribas Personal Finance is the leader in consumer lending. BNP Paribas is rolling out its integrated retail banking model across the Europe-Mediterranean zone and boasts a large network in the western part of the United States. In its Corporate & Investment Banking and Investment Solutions activities, BNP Paribas also enjoys top positions in Europe, a strong presence in the Americas and solid and fast-growing businesses in Asia.
*Rated AA by Standard & Poor's i.e. 3rd rating level on a scale of 22.